Why Have Aggregate Skilled Hours Become So Cyclical Since the Mid-1980 ’ s ? ∗

@inproceedings{Castro2006WhyHA,
  title={Why Have Aggregate Skilled Hours Become So Cyclical Since the Mid-1980 ’ s ? ∗},
  author={Rui Castro and Daniele Coen-Pirani},
  year={2006}
}
This paper documents and discusses a dramatic change in the cyclical behavior of aggregate hours worked by individuals with a college degree (skilled workers) since the mid-1980’s. Using the CPS outgoing rotation data set for the period 1979:1-2003:4, we find that the volatility of aggregate skilled hours relative to the volatility of GDP has nearly tripled since 1984. In contrast, the cyclical properties of unskilled hours have remained essentially unchanged. We evaluate the extent to which a… CONTINUE READING
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